Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned an average rating of “Moderate Buy” from the eighteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $687.9286.

MDGL has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Bank of America reduced their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research note on Thursday. Truist Financial upped their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Citigroup reissued a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, June 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, April 21st.

Insider Activity at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $495.74, for a total transaction of $516,561.08. Following the completion of the sale, the insider directly owned 10,033 shares in the company, valued at approximately $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the sale, the director owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,568 shares of company stock valued at $3,880,711. 17.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Eastern Bank boosted its holdings in shares of Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 21 shares during the period. Centaurus Financial Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 5.0% during the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 34 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 36 shares during the period. Accent Capital Management LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 64.9% during the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 37 shares during the period. Finally, Swiss Life Asset Management Ltd increased its holdings in Madrigal Pharmaceuticals by 6.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock worth $402,000 after buying an additional 44 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $499.76 on Tuesday. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. Madrigal Pharmaceuticals has a one year low of $275.00 and a one year high of $615.00. The firm has a market capitalization of $11.52 billion, a PE ratio of -39.04 and a beta of -1.07. The firm has a 50-day moving average of $511.60 and a two-hundred day moving average of $510.03.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The company had revenue of $311.34 million during the quarter, compared to analyst estimates of $301.05 million. During the same period in the prior year, the firm earned ($3.32) earnings per share. The business’s quarterly revenue was up 126.8% on a year-over-year basis. On average, analysts forecast that Madrigal Pharmaceuticals will post -7.3 earnings per share for the current year.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.